Details are sketchy, but it seems the private-equity group at HSBC Canada is set to be acquired by the management team. It’s understood talks are considerably advanced and the deal for the sale of HSBC Capital (Canada) Inc. – which has offices in Vancouver, Calgary, Edmonton and Toronto – could [...]
Orchard Bank , Household Bank, and HSBC credit card customers will soon be sending payments to Capital One, if a recently-announced multi-billion dollar deal is completed. According to reports from Reuters and the Wall Street Journal, London-based HSBC had expressed intentions to focus its operations on UK consumer banking and [...]
It looks like earlier estimates of 10,000 job cuts at HSBC was not correct. Try 30,000 jobs lost at HSBC. Aug. 2 (Bloomberg) — HSBC Holdings Plc plans to eliminate 30,000 jobs by the end of 2013, or about 10 percent of staff at Europe’s largest bank, to curtail surging [...]
HSBC said it will also sell, shut or slim down retail operations in 39 markets, where operations are sub-scale and unprofitable and is looking to sell its U.S. credit card arm and shrink its network of 475 U.S. branches.
NEW YORK, July 14 (Reuters) – Capital One Financial Corp and Wells Fargo are among the bidders for HSBC Holdings Plc’s U.S. credit card portfolio, according to sources familiar with the situation. In a separate HSBC asset sale, U.S. regional banks First Niagara Financial Group, KeyCorp, and M&T Bank Corp [...]